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Iran breaks ceasefire, crypto tanks.

24.06.2025 19:27

Following reports of a ceasefire violation by Iran, the cryptocurrency market experienced a significant downturn, resulting in liquidations exceeding $500 million. This followed a previously reported $1 billion liquidation in the 24 hours after the initial conflict began. The alleged breach of the ceasefire, announced by US President Donald Trump after a 12-day conflict between Israel and Iran, triggered widespread risk aversion among investors.

While the Iranian Supreme National Security Council claimed Israel had been forced into a ceasefire and unilateral defeat, Israeli Prime Minister Benjamin Netanyahu asserted his country had achieved its objectives after launching a June 13th attack aimed at dismantling Iran's nuclear and missile capabilities. These conflicting narratives contributed to the market volatility.

Initially, the cryptocurrency market showed signs of recovery following the ceasefire announcement. Bitcoin briefly rallied, climbing from a daily low of $99,000 to challenge the $106,000 resistance level. Similarly, Ethereum saw a substantial increase, recovering from $2,191 to reach $2,446. This brief rebound, however, proved short-lived, as subsequent reports indicated Iran's violation of the agreed-upon truce. Data from Coinglass revealed that this initial surge in crypto prices was followed by heavy losses, adding to the already significant market pullback. $422.97 million in long Bitcoin positions were liquidated, according to the same source.

Despite the market turmoil, one analyst suggested that this recent pullback presents a valuable buying opportunity for long-term investors. This perspective highlights the potential for strategic accumulation amidst the ongoing geopolitical uncertainty. The analyst's optimism contrasts sharply with the immediate market reaction to the news, underscoring the unpredictable nature of crypto markets in response to global events. The source of these reports and the analyst's view are from internet sources.

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